Atlantic City casinos gross gaming tax revenue generated $467Million in 2023, according to the latest industry report.
The figure is up 12% when compared to the previous record which was set in 2006, confirmed Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT).
Atlantic City casino operators reported $3.32bn in net revenue for last year, with tax contributions and fees recorded at $681.95m.
Online gaming revenue produced a record-high for total gaming tax contributions. Just over $1.92bn was reported in gross revenue.
$2.11bn was generated from slots, $715.36m from table games and $20.82m from poker. In terms of mobile sports betting, $460.43m was generated.
However, six of the nine land-based casinos in Atlantic City did not surpass pre-pandemic figures from 2019. The report also went on to confirm that almost 18 million customers were entertained in 2023.
This figure is also down from pre-COVID but it was a 3.2% increase compared to 2022. With that in mind, figures could plummet if the Atlantic City casino smoking ban is passed.
Atlantic City Casinos Tax Revenue
“Despite its triumphs and challenges, Atlantic City continues to persevere. The casino industry remains the economic engine of not only South Jersey but the entire state of New Jersey,” said LIGHT director Jane Bokunewicz.
“The industry has paid significant dividends to the city and state over the past five decades and will continue to play a vital role in the long-term success of the region,” she concluded.
Casino Association of New Jersey (CANJ) President Mark Giannantonio said: “As one of the largest employers in southern New Jersey, we know that when our properties are successful, so are our employees and the communities we serve.
“This new report from the LIGHT at Stockton University is meaningful because it helps shed light on how the revenue the casino industry generates is dedicated to supporting some of New Jersey’s most vulnerable citizens,” he added.
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